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Dec 10, 2012
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well, we begin with the new urgency in the fiscal cliff negotiations with now just 21 days, three weeks to reach a deal. today president obama returns to campaign mode taking the fiscal cliff message to detroit. yesterday the president and speaker boehner met privately at the white house, their first face-to-face meeting since they agreed last week to clear everyone else out of the negotiating room. so what happened? well, neither side revealed anything about the meetings, only saying that the lines of communication remain open. but yesterday another influential republican, senator bob corker from the senate banking commission said his party should consider the president's idea of raising tax rates on the wealthy. >> there is a growing group of folks that are looking at this and realizing that we don't have a lot of cards as it relates to the tax issue before year end. we have one house, that's it. the presidency and the senate is in the democrat's hands. a lot of people are putting forth a theory and i think it has merit where you go in and give the president the 2% increase that he's
well, we begin with the new urgency in the fiscal cliff negotiations with now just 21 days, three weeks to reach a deal. today president obama returns to campaign mode taking the fiscal cliff message to detroit. yesterday the president and speaker boehner met privately at the white house, their first face-to-face meeting since they agreed last week to clear everyone else out of the negotiating room. so what happened? well, neither side revealed anything about the meetings, only saying that the...
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Dec 13, 2012
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or was it just these fiscal cliff negotiations that are going on right now? the inability to make a deal? >> it's the do-nothing congress, their inability to make this deal. the best thing for the economy would be to make a deal and get off the fiscal edge, right. but if they're not going to be able to do that, then bernanke is smart. and again, it's unprecedented for him to do that. it's smart for him to go in and continue to try to stimulate the economy. >> you know, it's one thing for him to say that he is very concerned about the fiscal cliff and what it would do to the economy. but then to back it up with this move. >> yeah. you got to give the guy a lot of credit. it might be his bid for a third term as fed chairman, frankly, because it is creative. it's unprecedented, and by the way, the europeans are now following his lead. >> what is the danger here? >> well, the danger is that we're creating a bit of a bubble with these low interest rates, just like we did, unfortunately, in 2003 and 2004 when greenspan kept interest rates low. and that created the
or was it just these fiscal cliff negotiations that are going on right now? the inability to make a deal? >> it's the do-nothing congress, their inability to make this deal. the best thing for the economy would be to make a deal and get off the fiscal edge, right. but if they're not going to be able to do that, then bernanke is smart. and again, it's unprecedented for him to do that. it's smart for him to go in and continue to try to stimulate the economy. >> you know, it's one...
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Dec 5, 2012
12/12
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. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the tail of a primary residence. above that, it would be subject to this surtax. independent income. the rules are surrising. all rental income, you are going to have to pay the surtax on that rental income. depending on what happens with fiscal inclusive, we could be looking at 43.4%. all of this stuff, income is going to go up. there is a 0.9% payroll tax for people above $250,000. explain this to me. these investments aren't they already tax ee eed once? when you put it into corporate assets, you put it into corporate stock. this is an additional layer of tax on already taxed income. to worsen that, worsens that
. >> regardless of how fiscal cliff negotiations work out, for the first time ever, the irs will impose a new income surtax on all investment gains including your home. 159 pages of rules for one tax. this cannot be good. here now is the author of the book democracy denied. 159 pages. am i right it is going to include gains on your home? in fact this rule looks like it is going to cover more ground than originally thought. this surtax? >> well, you still have an exclusion on the...
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pile on the headline risk not only coming out of europe, but also with the fiscal cliff negotiations. the bottom line is it's going to be very difficult to maneuver in tight spaces, so widen it out. for us that means in the s&p we want to pie 1340 to 1320, and as the market gets up to the 1430 area and above, we want to reduce our equity exposure. in the dow call it 12,5 to 13,5. in the nasdaq 100, 2400 to 2800. liz: okay, hold on. let me just hold on the s&p because that's what we have here. 1320 to 1340 buy in when it hits there, and can then, of course, sell. >> right. liz: so this requires real involvement on behalf of the investor, doesn't it? >> well, i -- the point is, liz, we, as i said, you've got a lot of headline risk, a lot of back and forth with the news stories. the point is to be disciplined. map those levels out, and then don't get caught in between. so i think if 1340 to 1320's a great place to add to your equity exposure, and then as we get up to the 1430 area and above, you want to reduce your equity exposure, and don't get caught in between. liz: sorry, i interrupt
pile on the headline risk not only coming out of europe, but also with the fiscal cliff negotiations. the bottom line is it's going to be very difficult to maneuver in tight spaces, so widen it out. for us that means in the s&p we want to pie 1340 to 1320, and as the market gets up to the 1430 area and above, we want to reduce our equity exposure. in the dow call it 12,5 to 13,5. in the nasdaq 100, 2400 to 2800. liz: okay, hold on. let me just hold on the s&p because that's what we have...
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Dec 11, 2012
12/12
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maybe this progress or the appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o ony 4:00 p.m. eastern, former treasury secretary paul o'neill says he has easiest way to cut spending. fox business exclusive and in this our whole host of leaders in business talking about what specific they want to see. in terms of individual standouts. apple right now about 2% to the upside. some excitement over the iphone 5. how is this for a order in china. brenda marshall says china unicom has more than 300,000 people on the waiting list. nicole petallides with talk about this earlier, but that is enough to boost the stock. sales in china friday, can you imagine the lines
maybe this progress or the appearance of some moves the fiscal cliff negotiations. what you see is what house speaker john boehner said he is hopeful a deal will be reached, but also added the g.o.p. wants the white house to provide details on spending cuts. but in the white house wants the same thing from the g.o.p. but either way that is good enough for the market. we took off and we stayed to the upside. so far neither side has been specific on spending cuts so coming up in just one hour o...
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Dec 6, 2012
12/12
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we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing
we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it...
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Dec 11, 2012
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we have breaking news on the fiscal cliff negotiations. eamon? >> we have a statement from john boehner's office. they're saying that they have made a counter proposal now to the white house. let me read you the statement. they say, we sent the white house a counter offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more american jobs. this from the speaker's office. they are also saying that their offer now today was in response to a new offer from the white house. we know that the ap is also reporting that at least partial offers have been exchanged between the two sides over the past two days. so, clearly, what we know here is that paper is changing hands and the deal making is actually happening right now. what we don't know is what the content of that deal is. and speaker's office telling me right now that they're not going to be able to provide any detail on what was in that counter offer, so, behind the scenes, the mystery continues here. >> so, again, we're not necessarily zeroing in on exactly
we have breaking news on the fiscal cliff negotiations. eamon? >> we have a statement from john boehner's office. they're saying that they have made a counter proposal now to the white house. let me read you the statement. they say, we sent the white house a counter offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more american jobs. this from the speaker's office. they are also saying that their offer now today was in response to a new offer...
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Dec 7, 2012
12/12
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now, economists say these numbers are huge for fiscal cliff negotiations. they back president obama's argument that the economy is doing well enough to handle attack -- handle a tax hike for wealthier americans. >> the fact that this this report is strong, i think puts a little bit of wind in his sails. >> reporter: john boehner is holding a news conference here on capitol hill. he's now lead -- he's now leading the negotiations with president obama. we will show -- we will show you -- tell you what he has to say coming up next hour. >>> starting next year, apple will start making some of its products here in the u.s. apple's ceo tim cook says one of its manufacturing operations will be moved here from china. it's not clear where that assembly plant will be. that announcement comes as criticism is mounting. >>> well, clorox corporation has a deal with a san diego- based investor to sell its headquarters building in downtown san diego. west core properties agreed to buy the 24-story building on broadway. the terms of the deal, that has not been disclosed. bu
now, economists say these numbers are huge for fiscal cliff negotiations. they back president obama's argument that the economy is doing well enough to handle attack -- handle a tax hike for wealthier americans. >> the fact that this this report is strong, i think puts a little bit of wind in his sails. >> reporter: john boehner is holding a news conference here on capitol hill. he's now lead -- he's now leading the negotiations with president obama. we will show -- we will show you...
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Dec 6, 2012
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host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will face on january 1, 2013. there is no question that the president and the speaker will come to a compromise. back during the days of former president lyndon baines johnson and the senator leader at the time, some of the issues that are going on -- i will never forget when dirkson was talking to the president, and the president said we should meet this evening. the senator said i think we have reached our wit's end. johnson left the white house and met with the senator to show his commitment and said this is what we have to do. as a result of that meeting, they came to some d
host: armstong williams, how do you see the fiscal cliff negotiations going? where do you see them going? guest: there is no doubt that the president signaled yesterday in his conversation to the speaker of the house, and no matter what the drumbeats of the politicians and activists may say to the media, there is no question he is committed to resolving this issue. you cannot resolve this issue bringing people back to certainty or to help business owners understand the liabilities they will...
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Dec 11, 2012
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cliff. >> behind the scenes negotiations continue today. republicans say they're waiting for the president to outline more spending cuts. the three big issues, tax rates, entitlement reform, medicare and social security, and whether to raise the debt ceiling. we're about to hit it again, and america may need to borrow more. and on those issues at least for now on chilapitol hill, democra seem to think they have the upper hand. that's it for now. >> thanks so much. >>> last night he describes what he says is to use the debt creel as a pawn in the fiscal cliff negotiations. >> they see the handwriting on the wall and they're going to have to extend it, and if they don't the whole country will see they were willing to tank the entire economy and give everybody the tax break to give people at the top a bonus. where they're just dead wrong, ed, is thinking they're going to gain leverage over this debt ceiling because the american people are not going to stand for republicans turning right around and threatening to destroy the american economy by
cliff. >> behind the scenes negotiations continue today. republicans say they're waiting for the president to outline more spending cuts. the three big issues, tax rates, entitlement reform, medicare and social security, and whether to raise the debt ceiling. we're about to hit it again, and america may need to borrow more. and on those issues at least for now on chilapitol hill, democra seem to think they have the upper hand. that's it for now. >> thanks so much. >>> last...
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Dec 11, 2012
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. >>> and president obama and house speaker boehner mum on fiscal cliff negotiations. and a sign that a deal could be near. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought it up during a
. >>> and president obama and house speaker boehner mum on fiscal cliff negotiations. and a sign that a deal could be near. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with...
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Dec 12, 2012
12/12
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but for today, at least, an interruption in our obsession with the fiscal cliff negotiations. today was all about the fed. a rally was up 80 points on the dow at one time until midday when bernanke had his news conference and took all the wind out of the sales. down three points at 13,245. that does it for "the closing bell." >> "fast money" starts right now and i do believe maria is back tomorrow. >> she will be. see you tomorrow. >>> traders get what they wanted. >> if unemployment never goes below 6.5% again, we're going to have a quarter percent forever. >> so, now it's a race to see who can buy more lumber futures for printing currency between the japanese and the americans. >> but chairman bernanke is a buzz kill for stocks today. >> the asset purchases are a less well understood tool. we have -- we'll be learning over time about how every cautious they are, about what costs they may carry with them in terms of untended consequences. >> and we're back to worrying about a thelma and louise finish to the fiscal cliff. maybe that wouldn't presidentbeo so bad. >> when the go
but for today, at least, an interruption in our obsession with the fiscal cliff negotiations. today was all about the fed. a rally was up 80 points on the dow at one time until midday when bernanke had his news conference and took all the wind out of the sales. down three points at 13,245. that does it for "the closing bell." >> "fast money" starts right now and i do believe maria is back tomorrow. >> she will be. see you tomorrow. >>> traders get what...
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Dec 5, 2012
12/12
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. >>> but first we've got to get a big development on the fiscal cliff negotiations. at this point we are still just a quarter way to a deal. eamon javers, though, some republicans, call them defectors, call them break-aways, call them independent thinkers, whatever they want, what's the latest here? >> what we've seen just within the past couple of hours is a new letter from some republicans saying they'd like to see all options on the table here. that's a sign that there is some willingness among republicans to have some negotiations. i'm talking to lawmakers here on the hill who say it probably strengthens speaker boehner's hand to go out and make a deal with the president. we've seen some rancor in the ranks on the right from the speaker dealing with sort of an insurrection yesterday. this might give him a bit of wiggle room for negotiations. i want to show you this video here. this is members of congress departing capitol hill today. they're heading off for the rest of the week. they are not in session anymore. no more votes, no more committee meetings. it is all
. >>> but first we've got to get a big development on the fiscal cliff negotiations. at this point we are still just a quarter way to a deal. eamon javers, though, some republicans, call them defectors, call them break-aways, call them independent thinkers, whatever they want, what's the latest here? >> what we've seen just within the past couple of hours is a new letter from some republicans saying they'd like to see all options on the table here. that's a sign that there is...
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Dec 6, 2012
12/12
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alan simpson painting a bleak picture behind the scenes of the fiscal cliff negotiations. good morning. this is "way too early." thanks for being up with us this morning. we have a lot to get to on this thursday, december 6. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke on the phone yesterday. both men agreeing not to publicly characterize how the conversation went. but the stalemate in negotiations entered bold new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the top 2%. >> if republicans do not agree to that, is the administration pre
alan simpson painting a bleak picture behind the scenes of the fiscal cliff negotiations. good morning. this is "way too early." thanks for being up with us this morning. we have a lot to get to on this thursday, december 6. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on...
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Dec 7, 2012
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the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday president obama met with a virginia family. tax hikes for the rich are nonnegotiable. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is for families like this one. >> joining me now is barry, msnbc political contributor and editor for grio. hello, guys. >> perry, i'm wondering if these new unemployment numbers add to the president's leverage? >> i think they do. the big thing is the election. but the jobs numbers suggest that the economy is doing well and it cuts
the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday...
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Dec 6, 2012
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. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many law
. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over...
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Dec 7, 2012
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so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be if you were handling it? >> i like the idea of the president, john boehner, the key players, getting together with no staff in the room. the second thing, they've got to be guided by a couple of things. number one, what is best for the nation? not my party, not my philosophy, not necessarily my politics. number two -- >> you'd like it one on one. >> editd' i'd like it one on on discuss specifics in a one on one way. second, they may agree there should be short-term steps and long-term steps, i think we can get there. the nation is counting on them doing something significant. >> saints/giants this weekend? >> i've got t
so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be...
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Dec 13, 2012
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cliff negotiations. their hope is that those will end with a deal between congress and the president and that will make way for a steady improvement in the economy. those are the things that they will monitor to see when is the time that they can ease back. >> sreenivasan: greg ip from the "economist," thank you so much for your time. >> thank you. >> sreenivasan: wall street initially rallied on the fed's pronouncement, but the enthusiasm quickly flagged and stocks gave up the gains. in the end, the dow jones industrial average lost three points to close at 13,245. the nasdaq fell eight points to close at 3,013. indianapolis will be the first major american city to replace all city-owned cars with electric and plug-in hybrid vehicles. the program announced today calls for completing the switch by 2025. the city also plans to phase in fire trucks and other heavy vehicles that run on compressed natural gas. officials said they're asking auto makers to create plug-in hybrid police cars, which don't yet exi
cliff negotiations. their hope is that those will end with a deal between congress and the president and that will make way for a steady improvement in the economy. those are the things that they will monitor to see when is the time that they can ease back. >> sreenivasan: greg ip from the "economist," thank you so much for your time. >> thank you. >> sreenivasan: wall street initially rallied on the fed's pronouncement, but the enthusiasm quickly flagged and stocks...
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Dec 10, 2012
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after that, a look at the status of the fiscal cliff negotiations between congress and the white house. then a discussion on the role of lobbyists in those talks on the fiscal cliff
after that, a look at the status of the fiscal cliff negotiations between congress and the white house. then a discussion on the role of lobbyists in those talks on the fiscal cliff
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Dec 8, 2012
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. >> brown: so it is this program that is now caught up in the fiscal cliff negotiations. >> right. and it's unique this time around. this particular end of the month is a clear-cuttoff time. we have-- . >> brown: in the past it was phased out. >> right. and as harry said in your piece pointed out this is really the worst time of the year for this to happen. so what we need to do now is not just say oh let's just extend them. i think everyone thinks something like that has to happen. and it needs to be for a period of time that will be humane for the millions of people unemployed. we still have a very high unemployment rate. i think it's time now to do some experiments. how do we combine the extensions with mandatory training to make sure that people are skilled up when they reenter the labor force and don't take this bad decision, in my view, of simply dropping out bdz why do you think we need to do those experiments now rather than just continue or extend. >> well, this is the time to do it. congress is focused on extension. let's focus them also on changing the program subtlyment
. >> brown: so it is this program that is now caught up in the fiscal cliff negotiations. >> right. and it's unique this time around. this particular end of the month is a clear-cuttoff time. we have-- . >> brown: in the past it was phased out. >> right. and as harry said in your piece pointed out this is really the worst time of the year for this to happen. so what we need to do now is not just say oh let's just extend them. i think everyone thinks something like that...
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so, in the after hours, it is interpreted as being a positive development in if fiscal cliff negotiations. >> and it was -- >> that's right. >> it was all day. at a point, you have to succumb to the reality that the people have information in hand, it's going to come to you after the fact. people get this stuff, it's a game of horse trading, as tim said. people are looking for resolution. the minute they get a whiff of it, this market is going higher. >> le whaf. >> i think that's right. it is a positive development. it is an indication they are inching towards a deal. but we have a long time to go before now and then and we might need a few more offers before we get there. nobody should think they are going to announce something tomorrow. as soon as i say they -- >> you'll get another leak. >> we are inching towards it here and at some point they're going to have a deal but this thing could blow up at any time, too. this is very tense stuff and a lot of people's political futures are riding on this. >> not to mention the country's. >> and that, too. >> eamon, thank you for the update. ea
so, in the after hours, it is interpreted as being a positive development in if fiscal cliff negotiations. >> and it was -- >> that's right. >> it was all day. at a point, you have to succumb to the reality that the people have information in hand, it's going to come to you after the fact. people get this stuff, it's a game of horse trading, as tim said. people are looking for resolution. the minute they get a whiff of it, this market is going higher. >> le whaf....
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fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good
fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime,...
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cliff negotiations for some stimulus spending doesn't hurricane sandy prove we need it here's an opportunity to. take this we have a few minutes every year of warden a trillion dollars in deficit spending at this point the president obama is like a doctor running a thousand votes with a patient who is not recovery yet if there's an argument for spending more to help the people who were damaged when the federal weather service didn't warn them about the incoming storm but the larger point is this country has been following that policy for so long that we are near because if we did come you know did warn them about it and the wheels are coming off because since the reagan administration we have not been spending money on infrastructure in the united states look around you most of the infrastructure was built in the fifty's sixty's seventy's and early eighty's and then we. spend it on government run health care going to star wars which is four trillion dollars is not to blame for what's actually happening in new york because of the storms right now and the money that it's not about actually not
cliff negotiations for some stimulus spending doesn't hurricane sandy prove we need it here's an opportunity to. take this we have a few minutes every year of warden a trillion dollars in deficit spending at this point the president obama is like a doctor running a thousand votes with a patient who is not recovery yet if there's an argument for spending more to help the people who were damaged when the federal weather service didn't warn them about the incoming storm but the larger point is...
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president obama warned republicans not to try linking the fiscal cliff negotiations to an increase in the federal debt ceiling early next year. timothy geithner says the administration absolutely it prepared to let the economy go over the fiscal cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the answer is part of our science roundup online. hari sreenivasan has the details. >> sreenivasan: the image resembles a lite-bright time lapse. find those pictures and our conversation with a software developer who set out to sualize the 24-hour cycle of urban public transit systems. that's on our homepage. an international telecommunications conference in dubai aims to set new rules for the internet. what's at stake? we take a look in the rundown. and on making sense, economics correspondent paul solman argues both sides of the capital gains tax debate. all that and more is on our website newshour.pbs
president obama warned republicans not to try linking the fiscal cliff negotiations to an increase in the federal debt ceiling early next year. timothy geithner says the administration absolutely it prepared to let the economy go over the fiscal cliff unless the republicans accept higher tax rates on the healthy. and the southern philippines struggled to recover from a typhoon that killed nearly 300 people. and what does a day in the life of public buses, trains and subways look like? the...
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the standoff over the fiscal cliff. kwame holman updates the state of the negotiations and we talk with tennessee republican senator bob corker. >> ifill: jeffrey brown examines new concerns over syria's chemical weapons capability and what, if anything, the u.s. can do about it. >> woodruff: from florida, hari sreenivasan has the story of endangered coral reefs. many of them dying because ocean temperatures are rising and the waters are more acidic. >> i remember seeing fields of elk horn coral that you couldn't see through it and you couldn't see beyond it and those same areas are dead you know 99% dead. ♪ >> ifill: and we close with a remembrance of jazz great dave brubeck who died today, one day shy of his 92nd birthday. >> woodruff: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs stati
the standoff over the fiscal cliff. kwame holman updates the state of the negotiations and we talk with tennessee republican senator bob corker. >> ifill: jeffrey brown examines new concerns over syria's chemical weapons capability and what, if anything, the u.s. can do about it. >> woodruff: from florida, hari sreenivasan has the story of endangered coral reefs. many of them dying because ocean temperatures are rising and the waters are more acidic. >> i remember seeing...
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cliff negotiations. last night "snl" revealed the real reason the president decided to talk to boehner one-on-one. take a look. >> in order to get the support of the speaker, i agree there would be no tax increases. i repeat, zero tax increases. now why would i do that? i mean, i won the election. i have the leverage. why give in? well, simply put, i felt sorry for this man. early this week i found my way into the congressional cafeteria and what do i see? john boehner sitting by himself. all alone. not a single member of his party willing to share his company. he didn't even have any milk to drink because, well, tell them why -- >> they had taken my milk and grown it in the garbage. >> they took it and lieu it in the garbage. i was so heartbroken to hear this, i said, look, how about this, john. if you agree to a 1% raise on the top two americans, just two people, i will dissolve social security. dissolve it. so he took it to the republicans in congress and what do they do? >> invited me to a pizza part
cliff negotiations. last night "snl" revealed the real reason the president decided to talk to boehner one-on-one. take a look. >> in order to get the support of the speaker, i agree there would be no tax increases. i repeat, zero tax increases. now why would i do that? i mean, i won the election. i have the leverage. why give in? well, simply put, i felt sorry for this man. early this week i found my way into the congressional cafeteria and what do i see? john boehner sitting...
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the only reason we can't saturday fiscal cliff negotiations have fallen apart is that the two sides are still talking. but things are bad, make no mistake. and neither side is optimistic that anything can get done at all. with congress and the president careening to the edge of the cliff, the public is ignoring party lines and demanding an end to this mess. 70% of democrats, 59% of republicans want their own party's leaders to come to an agreement, even if it means not sticking to long-held positions on taxes and entitlements and yet despite those demand, the country is evenly divided on whether they think a consensus can be worked out here in washington, whether they believe obama and boehner can strike a deal. interestingly folks that are paying more attention to the fiscal cliff story are more pessimistic. it's the folks paying less attention that are more optimistic. judging by what we're hearing from negotiators, the public clearly knows something is up in the bad way. >> i remain the most optimistic person in this town but we've got some serious differences. the longer the white h
the only reason we can't saturday fiscal cliff negotiations have fallen apart is that the two sides are still talking. but things are bad, make no mistake. and neither side is optimistic that anything can get done at all. with congress and the president careening to the edge of the cliff, the public is ignoring party lines and demanding an end to this mess. 70% of democrats, 59% of republicans want their own party's leaders to come to an agreement, even if it means not sticking to long-held...
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it -- he has been very involved in the fiscal cliff negotiations. before he was a senator, he was governor of virginia. before that, he was co-founder of nextell. stephen case was co-founder of america online. he is a rabid twitterer. i feel like i know all the details of your life. he is a relentless opponent of entrepreneurship. we are very fortunate to have these three panelists. they each get five to seven minutes. i think we will get through it. five to seven minutes to discuss the topic. we will have a conversation among us. then we will open it up to you. hopefully we will get to all the -- all of your comments and questions. we'll start with professor sullivan. >> i am delighted to be here this evening. not only because the topic is important and the panelists are interesting, but because this conference recognizes mort kaplan, somebody i am pleased to have the opportunity to speak on behalf of tonight. we're looking tonight at immigration policy and how it affects our -- our ability to attract high skilled immigrants. we're speaking of scie
it -- he has been very involved in the fiscal cliff negotiations. before he was a senator, he was governor of virginia. before that, he was co-founder of nextell. stephen case was co-founder of america online. he is a rabid twitterer. i feel like i know all the details of your life. he is a relentless opponent of entrepreneurship. we are very fortunate to have these three panelists. they each get five to seven minutes. i think we will get through it. five to seven minutes to discuss the topic....
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is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think this is what's going to happen. i think it's 50-50 we get a deal. no vacation. no legislation, no vacation. i think that when people get their paycheck at the end of january, they are going to be shocked at how much lower it is. i know these guys in washington, their paycheck isn't affected. i think when you get your paycheck, you're going to say i hate that. it is going to be that big. it's going to be very -- the takeout is going to be
is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a...
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as the negotiations move forward. let's bring in the panel. on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but
as the negotiations move forward. let's bring in the panel. on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily...
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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. >>> hello, again, just over three weeks away from that fiscal cliff, we gave off a week of press conferences, symbolic votes in senate, less than an hour of serious negotiating. what will it take to break the stalemate? we'll get into that this morning. with two big roundtables of elected officials. the lawmakers. senator tom coburn for the republicans and deb jie stabenow for the democrats. and congressman hen sarlg. he said that for there to be a big deal, tax rates on the wealthy are going to have to go up. >> again, as the speaker has said, unfortunately what we see out of the president my highway or the high wway. one dollar revenue for 2.5 of spending reductions. now, after the election, it's a little bit of bait and switch. now he's asking for $1.6 trillion. for every one dollar of tax increase there's about 20 cents of spending reduction. >> i'm talking about the rates. if the rates go up, can the republicans accept that? >> no rep wants to vote for a rate tax increase. what that's going to do, is cause 700,000 americans to go from having paychecks to unemployment checks because of w
. >>> hello, again, just over three weeks away from that fiscal cliff, we gave off a week of press conferences, symbolic votes in senate, less than an hour of serious negotiating. what will it take to break the stalemate? we'll get into that this morning. with two big roundtables of elected officials. the lawmakers. senator tom coburn for the republicans and deb jie stabenow for the democrats. and congressman hen sarlg. he said that for there to be a big deal, tax rates on the wealthy...
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. >> bret: the back and forth today in the fiscal cliff negotiations that aren't really negotiations as they're not sitting in one room. today, the treasury secretary tim geithner said in an interview that there is a little bit of progress. but yes, the white house would, "absolutely go over the fiscal cliff" if the republicans would not raise tax rates. now republicans are pointing back to july 2011. this statement by president obama. >> yes, said give us $1.# trillion in additional revenues that could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes. eliminating deductions. and engaging in a tax reform process that could lowered rates generally while broadening the base. >> bret: the white house is saying it's out of context but not specifically how out of context. bring in the panel. steve hayes for "weekly standard." kirsten powers for daily beast. syndicated columnist, charles krauthammer. charles? >> look, i love when the president says we need conceptual break through. meaning the republicans have to accept a hike in rates. wh
. >> bret: the back and forth today in the fiscal cliff negotiations that aren't really negotiations as they're not sitting in one room. today, the treasury secretary tim geithner said in an interview that there is a little bit of progress. but yes, the white house would, "absolutely go over the fiscal cliff" if the republicans would not raise tax rates. now republicans are pointing back to july 2011. this statement by president obama. >> yes, said give us $1.# trillion in...
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this has some bearing on this week's debate over the fiscal cliff negotiations because earlier in the week on monday, senator demint put out a press release saying he was opposed to speaker boehner's office of $800 billion in new taxes. that was sort of the brush fire on the right that we saw a resistance to speaker boehner's position. now senator jim demint announces that he's going to step away from the senate entirely. he had already said that he was going to retire, so he would be leaving the senate eventually. and this eases the path a little bit for speaker boehner to continue those negotiations with the president. and we know that boehner and the president had a phone call just yesterday, late in the day, we don't know exactly what they said in those conversations. so that's the news here in the senate. >> it's still happening in a broader narrative, dick armey has had a fallout with his group. we' i wonder does this mark a new chapter in the future of the tea matter? >> absolutely it does, and it marks sort of a post election reckoning among conservative forces generally in wa
this has some bearing on this week's debate over the fiscal cliff negotiations because earlier in the week on monday, senator demint put out a press release saying he was opposed to speaker boehner's office of $800 billion in new taxes. that was sort of the brush fire on the right that we saw a resistance to speaker boehner's position. now senator jim demint announces that he's going to step away from the senate entirely. he had already said that he was going to retire, so he would be leaving...
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cliff negotiations. this is where the rubber meets the road. this is where it's actually happening at the state level. at the local level. this is where all of that money that was released into the political system by citizens united is actually now paying off. >> yeah, and that is what's frightening nationwide because citizen's united opens the door everywhere. and we're seeing them searching for a model on how to do this. that is why even the detroit free press, in an editorial, and, again, this is a paper that had endorsed governor snyder two years ago. it says the right to work champions, the determination to emasculate once and for all the democratic parties most reliable source of financial and organizational support. now, senator, let me say this to you. if they can get away with it in michigan, michigan has 671,000 union members, 17.5% of the work force, fifth highest in the nation. if they can get away with it in michigan, they feel they can just steam roll all over the country. >> i think every
cliff negotiations. this is where the rubber meets the road. this is where it's actually happening at the state level. at the local level. this is where all of that money that was released into the political system by citizens united is actually now paying off. >> yeah, and that is what's frightening nationwide because citizen's united opens the door everywhere. and we're seeing them searching for a model on how to do this. that is why even the detroit free press, in an editorial, and,...